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physical obsolescence

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physical obsolescence

The deterioration of a property due to wear and tear or abuse.



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Since detailed commercial property data became available in 1980, the retail sector has enjoyed a yield premium, reflecting the fact that the sector had far better rental value growth than offices or industrial, and, in the case of shops, the least physical obsolescence and readily accessible lot sizes.
Shearith Israel claims that the new building is necessary in order to address "the physical obsolescence and the ill-configured floorplans" of the current structure.
Physical Obsolescence Physical obsolescence usually means your facility is simply worn out: the shell may be cracked and leaking, deck surfaces are splaying, concrete slabs heaving, recirculation and supply pipes are rusting and leaking, filter systems are malfunctioning, bathhouse roof is leaking, the parking lot is crumbling, light fixtures are broken.
 
 
 
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